The new Digital Applications and Cloud Services segment are showing positive results and had achieved a revenue of RM1.99m in 4Q23, within just 1 year of commencement and Cloudpoint Technology Berhad (CLOUDPT) is confident in securing more contracts.
Malacca Securities (MSSB), in its Technical Focus note today (May 9), said the recent announcement of the upcoming acquisition of data centre specialist, Unique Central Group, may widen CLOUDPT’s scope of services. This enables CLOUDPT to offer comprehensive and end-to-end data centre solutions to clients, including AI and green data centre solutions.
Financial services industry customers are ramping up capex in technology to innovate and accelerate digital transformation. CLOUDPT is confident in securing FSI customers on the AI-based applications and solutions.
CLOUDPT’s share price could be experiencing a potential flag formation breakout above RM0.68. As the technical readings are positive, MSSB expects follow-through buying interest to be seen in the near term, targeting RM0.73-0.74, with a LT target at RM0.78. Support is set around RM0.65-0.66, with a cut loss set around RM0.645.
CLOUDPT provides data-center networking, cyber-security, servers, storage and data management, and hybrid IT solutions. CLOUDPT serves tech customers worldwide.
